pension

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Related to Defined-benefit pension: Defined Contribution Pension Plan

pension

(1) A regular payment plan intended to provide a person who retired from a job with a secure income for life.
(2) A monthly payment from a pension.
References in periodicals archive ?
Financial Reporting for Postemployment Healthcare Plans Administered by Defined Benefit Pension Plans establishes standards for postemployment health care plans administered by state and local government defined-benefit pension plans.
Chicago's four defined-benefit pension plans combined are funded at 69% of liabilities at historical cost through December 2002.
The financial reporting objective of a defined-benefit health and welfare plan has been clarified and is the same as the financial reporting objective of a defined-benefit pension plan; each type of plan provides a determinable benefit.
The most common form of this stealth compensation is an enhanced version of the traditional defined-benefit pension plan called a SERP (for supplemental executive retirement plan.